Nelnet (NYSE:NNI) Stock Rating Lowered by StockNews.com

Nelnet (NYSE:NNI) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Nelnet Price Performance

NYSE NNI opened at $106.35 on Tuesday. The firm has a market cap of $3.86 billion, a P/E ratio of 34.98 and a beta of 0.90. The stock’s 50-day moving average is $110.53 and its two-hundred day moving average is $109.19. Nelnet has a fifty-two week low of $82.22 and a fifty-two week high of $127.32. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47.

Insider Buying and Selling

In other news, insider William J. Munn sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total value of $272,225.00. Following the completion of the sale, the insider now directly owns 9,354 shares of the company’s stock, valued at approximately $1,018,557.06. This represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 50.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new position in Nelnet during the second quarter valued at about $4,660,000. Kingsview Wealth Management LLC bought a new stake in shares of Nelnet during the third quarter valued at approximately $2,613,000. Barclays PLC increased its position in shares of Nelnet by 127.4% during the third quarter. Barclays PLC now owns 28,996 shares of the credit services provider’s stock valued at $3,285,000 after purchasing an additional 16,245 shares during the period. Denali Advisors LLC raised its stake in shares of Nelnet by 33.0% in the second quarter. Denali Advisors LLC now owns 64,510 shares of the credit services provider’s stock valued at $6,506,000 after purchasing an additional 16,000 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC bought a new position in Nelnet in the third quarter worth $865,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Company Profile

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.